Public Employees Retirement System of Ohio lifted its position in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 135.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 38,099 shares of the offshore drilling services provider’s stock after purchasing an additional 21,891 shares during the period. Public Employees Retirement System of Ohio’s holdings in Diamond Offshore Drilling were worth $360,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of DO. Advisor Group Inc. boosted its holdings in Diamond Offshore Drilling by 108.3% in the 4th quarter. Advisor Group Inc. now owns 3,577 shares of the offshore drilling services provider’s stock worth $35,000 after acquiring an additional 1,860 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Diamond Offshore Drilling by 111.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,681 shares of the offshore drilling services provider’s stock worth $44,000 after acquiring an additional 2,468 shares during the period. Kentucky Retirement Systems acquired a new position in shares of Diamond Offshore Drilling in the 3rd quarter valued at approximately $327,000. NumerixS Investment Technologies Inc acquired a new position in shares of Diamond Offshore Drilling in the 4th quarter valued at approximately $61,000. Finally, Bessemer Group Inc. acquired a new position in shares of Diamond Offshore Drilling in the 4th quarter valued at approximately $64,000.
In other Diamond Offshore Drilling news, Director Paul G. Gaffney acquired 4,000 shares of Diamond Offshore Drilling stock in a transaction that occurred on Monday, February 25th. The stock was purchased at an average cost of $9.91 per share, with a total value of $39,640.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.
Shares of Diamond Offshore Drilling stock opened at $11.48 on Wednesday. The stock has a market capitalization of $1.58 billion, a P/E ratio of -9.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.32 and a quick ratio of 3.32. Diamond Offshore Drilling Inc has a 1 year low of $8.78 and a 1 year high of $21.92.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, February 11th. The offshore drilling services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.02). The business had revenue of $232.50 million during the quarter, compared to analysts’ expectations of $249.89 million. Diamond Offshore Drilling had a negative return on equity of 4.32% and a negative net margin of 16.64%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, research analysts forecast that Diamond Offshore Drilling Inc will post -2.32 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Clarkson Capital lowered Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Friday, April 12th. Zacks Investment Research lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine cut Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. UBS Group set a $14.00 target price on Diamond Offshore Drilling and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, DNB Markets raised Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Eight equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Diamond Offshore Drilling has a consensus rating of “Hold” and an average price target of $15.53.
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Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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